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Buffett has spoken ladies and gentlemen not Jimmy Buffett the Oracle of Omaha Warren Buffett in this video I want to cover some of the key highlights of the Berkshire Hathaway annual shareholder meeting and what kind of insights can we take away from it as an investor hello everyone my name is Mike the CPA and I produce videos on this channel around finances investing and taxes thank you so much for being here and I want to welcome all the new subscribers as we discuss the legend of investing Warren Buffett the man is still at it ladies and gentlemen 9 almost 90 years old he will be in August of this year 1954 was my best year but but I was working with absolutely with peanuts unfortunately and can you believe that talk about a guy who loves his job loves what he does whether you're a fan of Warren Buffett or not I think is irrelevant in this conversation because I think there's always something you can gain from listening to him speak Berkshire Hathaway's a company Warren Buffett now has owned for quite some time and has become a conglomerate the day the conglomerate owns more than 90 companies including Geico Dairy Queen Fruit of the Loom and Duracell and has major investments in companies including Apple American Express coca-cola and Bank of America I don't know if you guys were able to catch that shareholder mean last week but man the guy has passion and a love for what he does as he spoke he spoke for five hours guys five hours at 89 years old now in my opinion this is just my opinion over the years as I followed Warren Buffett as I've read many of his books as he's read some of his shareholder letters which is some of the best material you could read learn investing is look at Berkshire Hathaway go back to the letters he's written the shareholders and read the man's wisdom listen guys there's a couple key takeaways from this meeting that I want to share with you and being in the spot like like the man is you know a lot of people look at him and he's kind of been pegged this way a little bit I think over the years as a cheerleader for the American economy a cheerleader for investing and in a sense he kind of is he kind of is in my opinion but you know he's one who is a very optimistic and I think when this last shareholder meeting was taking place I I think the press this the overall sentiment well that I was getting from it is that a lot of people were expecting him to be more positive about the current situation we're in and and and looking for some sort of insight some sort of clue that he thought that the economy was gonna be recovering from the situation we're in with this whole thing which I cannot say otherwise I'll be instantly demonetised but Union that's not what we gathered though if you watch that's not what the man said he's never seen anything like this and so that I'd be able to confidently say that within the next year so we're gonna come out of it he said I don't know and the fact of the matter is is we can really see you don't judge not judge someone not by what they say but by their actions right their actions speak louder than words and currently we can see right on the berkshire hathaway financials he's sitting on an over a hundred in 30 billion with a b dollars in cash waiting on the sidelines if you guys were able to tune in to that meeting he he had questions being asked of why are you not buying right now we saw the market take a quick dip right from from between february march but still the man just compiling cash so why isn't he buying you know he thinks the feds doing a good job and every one of those people that issued bonds and late March and April I sent a thank you letter to the Fed makers it would not have happened if they hadn't operated with really unprecedented speed and determination he's concerned a little bit about what the repercussions are of all this money printing but with that being said he doesn't really see any companies that are very attractive right now for him to acquire or to buy a take a significant stake hold in at these price levels you can tell he still thinks in my opinion after watching that I can tell the man still thinks things are way overvalued but like Buffett said several times throughout the meeting he says I don't really know where the markets going and he says I honestly don't think anybody can predict it he said I don't even know what the markets gonna do tomorrow so he said to for for me to be able to determine what's gonna happen a year from now he says I have no idea in the short term Buffett's basically saying look guys I don't know where this thing's going especially not in the short term but he's but in the long run I think we're gonna do ok over the next 20-30 years he doesn't know yet what the economy's gonna do and the stock market isn't the economy it's more important to remember that one of the things I think you will like about Buffett if you look at his interviews on YouTube is the guy's very forthcoming about his mistakes he's not afraid to share what mistakes he's making and that's good because it you can always learn more I think from people's mistakes rather than through successes one of the most recent mistakes if you listen the Buffett is his position in the airline industry of course Buffett was one of the largest stakeholders in Delta Airlines but now he sent exit of that position to prospects harder that will continually lose money in the future that we will certainly will try to sell it to somebody else but one way or another we will we will not continue to to hold it he doesn't see Airlines coming back anytime soon Buffett's commonly touted as the king of long term investing or the the long term buying a hold of investor but if you step back and you look at the history of what he's done over the years as an investor you'll see that he doesn't always hold things long-term now listen to what Buffett says here he says if you get in a lousy business get out of it I've always said if you want to be known as a good manager buy good business he added that's the way to do it and everyone will think you are smart from that we can see that Buffett's not afraid to pull the trigger to get exit a position if it's running a loss if he doesn't feel that he can predict when cash flows or income projections might improve for that particular business Buffett is not a man who thinks people should go out and buy individual stocks I agree with everything forget his name but just said I mean the the truth is that that's I recommend the S&P 500 he I think most people should be involved in that funny thing is though that's pretty much all the man owns as individual company stocks but of course he has billions and billions of dollars to play with but this is something you've probably already heard before if you've watched previous Buffett interviews but Buffett is very big on exchange-traded funds or ETFs where you buy a basically an ETF is a group or a bundle of stocks you can buy with a very low fee ratio and it's all the diversification are a lot of the diversification is built into that exchange-traded fund which may own dozens or even hundreds of individual company stocks so you don't have to be out there trying to be a stock picker trying to determine which stock is best for you he often commented on the power of dividends and I don't know if you know this but based on all the company holdings that Buffett owns he makes hundreds of millions of dollars every single year compounding annually within Berkshire Hathaway just from dividends Buffett's company Berkshire Hathaway made six hundred and forty million dollars in dividends just from their investment in the Coke Company in 2019 the funny thing though is for Berkshire Hathaway Class A shares which sell for about two hundred and sixty two hundred and seventy thousand dollars per share which I would literally have to sell this house that I'm in to buy one share No thank you that company if you look at it it doesn't pay a dividend but he loves buying companies that do pay dividends now even though Buffett's a big believer in the S&P 500 because of this whole thing that we're going through he doesn't believe all the companies in the S&P 500 are gonna perform as well because they've never faced anything like we have to date and that's why you're starting to see companies already starting to cut their dividends in the first quarter of 2020 so far this year a hundred and fourteen companies in the index have suspended guides seven-iron suspend their buybacks and 31 have either cut or eliminated their debits those are cold hard facts people that's just the first quarter normally a couple quarters months into this bathroom with thirty million people unemployed maybe the worst recession since the Great Depression now you might be wondering right now is that your Buffett's hording so much cash so I start hoarding in as much cash as possible should I be investing it's like what should I do well there's a couple key takeaways I think I've learned from listening and watching or Buffett over the years and here's basically what they are summarizes the first one is I don't believe Warren Buffett because of the position he is in and how much he's in the spotlight how politically connected he is to some of the most powerful the richest people in the world I don't think you're ever gonna hear the man come out and say that the stock market this economy it's gonna crash I don't think he would ever do that I think he's got too much pressure on him he's got too many eyes on him and he's got too much influence influence to come out and say something like that so he's got to be a little bit more crafty with his words but the fact that he's holding cash tells me a lot of where he thinks the markets heading within the next year or so he thinks it's gonna head further down or he's gonna wait until he does see a company that makes sense to acquire and right now at least from his viewpoint he doesn't see that the next thing is that I think over the long run and his optimism for America you know it could be right he could be wrong but I do think that in general his advice is pretty sound is that yeah maybe you and I maybe we can't predict what the stock market's gonna do tomorrow the next year or three or four that but in the long run if we buy good companies companies that are essential to the economy essential to people's well-being in their daily lives I think you're gonna do pretty well and you're gonna outperform Treasuries now I personally like both ETFs and buying the individual company stocks I don't see that changing for myself but he did say I do think that if you listen to Warren Buffett you'll learn that not all companies even if they're in the sp500 they're not all good companies they may be good now but years from now they might not be in that position and so having if you have an ETF one of the downsides of that is you're gonna hold the good and the bad whereas if you determine and learn what companies to look at what to analyze then you'll may have a better insight into what companies might perform well long term and so the you always have to and be in the mindset of just because something's good now doesn't mean it's gonna be good in the future thirdly don't be afraid to sell a losing position if you're in a business that has no foreseeable future and least in the maybe not in the long run or even in the short run then maybe it's time to exit the position yeah I know he's known for buying hold but not everybody just buys and holds and if you buy and hold for everything forever you're likely gonna take some big losses by doing so versus knowing when to cut your loss exit a position and get out with some club some capital and invest it in something that will perform well into the future the fourth thing is Warren Buffett is a huge believer in investing in companies that pay dividends lastly what I think is my favorite piece of advice or favorite insight from Warren is that the guide is not he's not afraid than to make mistakes and admit he's made a mistakes if you listen to that interview if you can find the full thing if I can find the full thing I'll leave it a link to it below but he says you know he's gotten over 90 companies in Berkshire Hathaway and he's almost 90 years old so maybe it's one company per per year of age I don't know I don't know how he's figuring that out but within any portfolio and I think this is encouraging for all of us we're gonna have some winners and we're gonna have losers in our portfolio I have in my portfolio I have winners and I have losers I have both but the idea is that over time hopefully you learn as an investor more of what to to seek out what companies to invest in and increase your overall batting average are you gonna hit a home run every time no do you need to hit a home run every time no not to be a successful investor but not every investment you make has to be a winner it doesn't have to be and you can still build a nice retirement and still build a future and build wealth for your family and that I think that's the key takeaways guys is that you know nobody's perfect not even Warren Buffett but anybody can invest is it the right time to invest who knows he doesn't even know but that I think the idea is to be prepared for whatever way the economy moves and the stock market moves and then get yourself in a position so that you can take advantage of the markets either way and so I like to be personally I have one foot in one foot out I every month I invest a certain amount of money into my portfolio and every month I set a little bit of side in cash I pay down a little bit more debt or you know whatever it may be so it's a good time with the uncertainty we have in our markets and our economy to be flexible and ready to move to any direction where the opportunity arises and just be nimble and be quick until next time guys I will see you down in the comments let me know what you think of Warren's insights let me know what you think of Warren Buffett and I will see you all in the next video love y'all peace
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